Definition
National central banks have their own legal personality, according to the national legislation of their respective countries. The national central banks of the euro area are part of the Eurosystem and, as such, perform the functions assigned to them in accordance with the rules established by the European Central Bank. They may autonomously perform other functions outside the Eurosystem, provided that the Governing Council considers that they do not interfere with the tasks and objectives of the Eurosystem.
Related concepts
Update date: January 2025
